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Chinese auction. A Chinese auction is a combination of a raffle and an auction that is typically featured at charity, church festival and numerous other events. Can also be known as penny social, penny sale, tricky tray or pick-a-prize according to local custom, or to avoid causing offense.
The Chinese phrase for the US dollar is mei yuan, the American yuan. The Japanese and Korean names for their currencies, the yen and the won respectively, are derived from the same Chinese yuan character.The Chinese name for the Japanese yen is the ri yuan.In the world's high-flying financial circles, the word renminbi (or RMB) is often preferred to yuan (or CNY, short for Chinese Yuan).he Chinese phrase for the US dollar is mei yuan, the American yuan. The Japanese and Korean names for their currencies, the yen and the won respectively, are derived from the same Chinese yuan character.